Motilal Oswal: Neutral on Bajaj Auto, Target Rs 9070

• Motilal Oswal maintains a "Neutral" rating on Bajaj Auto with a target price of Rs 9070.
• Bajaj Auto plans new launches, including Pulsar variants and a 125cc model, to regain domestic motorcycle market share.
• The company aims for leadership in 2W and 3W EVs with upcoming Chetak and Riki launches, nearing EBITDA break-even in 2W EVs.
• Export demand is expected to remain strong in Latin American and Asian markets, with currency depreciation aiding margins.
• Motilal Oswal projects a 12% revenue/EBITDA CAGR and 11% PAT CAGR for Bajaj Auto.

Why It Matters: Motilal Oswal rates Bajaj Auto 'Neutral' with an INR9,070 target price.